Equinix 8-K 2006
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event Reported): September 26, 2006
(Exact Name of Registrant as Specified in its Charter)
301 Velocity Way, 5th Floor
Foster City, California 94404
(Addresses of principal executive offices)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Item 2.03. Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant
On September 26, 2006 and September 29, 2006, Equinix, Inc. (Equinix) elected to draw down $12,000,000 and $28,000,000, respectively, from its $75,000,000 revolving credit facility agreement with Silicon Valley Bank and General Electric Capital Corporation (the Credit Facility). $20,000,000 was borrowed at the Prime Rate and bears interest at 8.75% per annum and the remaining $20,000,000 was borrowed at a spread over the one-month LIBOR rate and bears interest at 7.824% per annum (collectively, the Borrowings). The Borrowings will be used to fund capital expenditures and construction costs relating to Equinixs data center expansions in the Chicago and Washington, D.C. markets pending the completion of the permanent financing arrangements previously announced by Equinix. Inclusive of these Borrowings and previously issued letters of credit, approximately $28,300,000 remains available for borrowings under the Credit Facility.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.